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Re: Chairman's Corner - Friday, December 05, 2008
Information on Tanzania, My Favorite Country
Author: Jim Sinclair
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Dear Friends,
1. Today's news on the cost of mining and infrastructure is in my
opinion posturing for meetings between the Chamber of Mines and the
Presidential Committee on Mining Revenue next week.
2. High costs can be a product of a company having sold the gold
production of their mine forward 10 years in order to obtain
non-recourse loans. The price of gold would then be delivered against
those sales forward and used in the calculation of income in order to
derive costs of mining according to International, Canadian and US
Generally Accepted Accounting Principles (GAAP).
3. The infrastructure in Tanzania from Mwanza to Dar es Salaam is
excellent.
4. A main high power electrical grid and delivery system exists in the
area of Mwanza and can service multiple mines.
5. Gold can be shipped via air. This is most certainly true if you own
multiple large aircraft yourself.
6. In my opinion mining costs in Tanzania are among the lowest in the
world, especially if you have an open pit potential to finance your
future underground operations.
Regards,
Jim
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Message sent on Fri Dec 5, 2008 at 9:00:01 AM Pacific Time
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